The High Court of Zambia has appointed Mr. Lungu Milimo of Messrs Lungu Simwanza and Company as Liquidator for KCM.

The appointment follows an application by ZCCM – IH to the High Court to grant them an order to have Mr. Lungu as Provisional Liquidator. “Upon hearing counsel for the petitioners and upon reading the affidavit filed herein, it is hereby ordered that Milingo Lungu of Messrs Lungu Simwanza and Company BE and IS hereby appointed to act as Provisional Liquidator of the respondent Company until the conclusion of the hearing of this petition or further order”, read the Ex Parte order in part.

According to the order the provisional liquidator will among others have the powers to carry on the business of the respondent so far as is necessary for the beneficial of the winding up, make any compromises or arrangements with creditors, make any agreement on all questions in any way relating to or affecting the company or its assets, take possession, custody and control of all the assets of the respondents and bring or defend any action or other legal proceedings in the name of or on behalf of the respondents, dispose of assets by public tender or the most transparent manner under the circumstances, sell the real or personal property and things in action of the respondent by public auction public tender or private contract.